CBRE announced the sale of Allred Tech Center, a 132,744-square-foot single-tenant industrial building in Phoenix, to 51st Fenix, LLC, for $19.5 million.
CBRE’s Mark Krison, Bob Young, Glenn Smigiel, Rick Abraham and Luke Krison arranged the sale on behalf of the seller, Douglas Allred Company.
Situated on 8.39 acres at 10027 S. 51st Street, Allred Tech Center was built in 1985 and renovated in 2006 and 2015. It features 403 parking spaces and dock-high and grade-level truck doors.
Allred Tech Center serves as the headquarters for Hanchett Entry Systems (HES), a subsidiary of ASSA ABLOY, a global leader in high-performance entrance door systems.
The property is located within the Phoenix Tech Center Business Park and provides access to Interstate 10 via Elliot Road, with excellent visibility along Interstate 10. The property is located 12-minutes from Sky Harbor International Airport, 10 minutes from Arizona State University, and 20-minutes from downtown Scottsdale and downtown Phoenix, offering access to metro Phoenix’s employment hubs.